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Dear all,
I was wondering why there is no lecture on Financial instruments? Especially, I am wondering, if text books from 2013 and 2012 are still helpful, as in the lecture notes, IAS 39 is not mentioned anymore at all!
Many thanks!
Yes IAS39 is obsolete as regards recognition of Financial Instruments Assets and Liabilites. However it is still applicable for impairment of for financial instruments.
For Financial Instruments the IFRS 9 is relevant.
I do not quite agree, most companies still use IAS 39 and it will take years until they will completely switch to IFRS 9. However, if the examiner shares your opinion, that is what counts. Is that the case?
Kangmo there are two examiner articles regarding Financial Instruments on the ACCA Website you should read. The Question 3 in Dec was mainly FS so not likely to be a big question again but if you know IAS 39 then time to add IFRS 9 aswell.
Hello Eoglasain,
Do you mean these two:
– “Hedge accounting”
– “When does debt seem to be equity”Thanks for the hint!
Hello Kangmo,
There is a question 4 from june 2011 on Financial Instrument. I think it will give you a great feel about the changes in Financial Instruments. What things are no longer required from IAS 39.
Also I can tell you that in my new notes I can’t see anything from IAS 39 except impairment on financial instruments.My advise is that you focus on IFRS 9 for finanacial instruments measurement and recognition and focus on IAS39 for impairment of financial instruments.
https://www.accaglobal.com/content/dam/acca/global/PDF-students/2012/p2int_jun_2011_qu.pdf
https://www.accaglobal.com/content/dam/acca/global/PDF-students/2012/p2int_2011_jun_a.pdf
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